Category Archives: Industries
Insurance sector may lose 72% of Dangote refinery’s risk
The nation’s insurance industry may lose 72 per cent of the insurance business in the Dangote Oil Refining company. The company, which has insured value estimated at $6.8 billion, may be overtaken by foreign operators, when it becomes operational as
Analysts predict bearish outing for equities
As the equities market re-opens for business today, market analysts have predicted that proceedings on the floor of the Nigerian Stock Exchange (NSE) would continue to be bearish this week. The Federal Government had declared Monday and Tuesday public holidays to
We are operating at N3trn shortfall, DisCos lament
Power Distribution Companies in Nigeria (DISCOS), at the weekend, lamented they incured a huge operational shortfall of about N3 trillion, a development that makes it difficult for them to meet their obligation. Speaking to Daily Sun in Abuja, the Executive Director,
How global rate cut push is supporting credit in Nigeria
Central banks in advanced and developing countries are adopting expansionary monetary policy stance in order to stimulate economic growth. The move, which now tends towards a global unanimity, is, however, creating initial benefits for Nigeria, even as it remains cautious
Siemens stole our document to win government’s job says Ogaji
Since July 22, 2019 when the Federal Government entered into a contract with Siemens AG to upgrade Nigeria’s electricity generation to 7,000 megawatts, 11,000 megawatts and 25,000 megawatts in 2021, 2023 and 2025 respectively, there have been series of comments
Coca Cola targets 100,000 youths for business, networking skills
The Nigeria Bottling Company (NBC) Limited, has announced plan to provide training for 100,000 youths by the year 2020 across Nigeria, under its programme, ‘Youth Empowered Nigeria.’ The company which produces the popular soft drink, Coca Cola, said the training
Forces that disabled Nigeria’s first cement plants
Manufacturing business across the globe remains a critical aspect of industrialisation . It is indeed one aspect of industrialisation that deals with the process of transforming materials by means of specified skills and technology into the intermediate or final stage
Power exhibition, conference hold September 24
Oil futures climbed more than $1 a barrel yesterday amid a weaker dollar, recovering ground after concerns that a global economic slowdown would hurt crude demand sparked losses of over 4 per cent in the previous session. Brent crude had
Wapic insurance pays N2.3bn claims to policyholders
Wapic Insurance Group has paid N2.3billion as claims to its policyholders who suffered insured risks between January and June 2019 financial year. This was a huge improvement from N1.6 billion claims it paid in the first half of 2018, translating
Investors lose N125 billion in three trading days
Trading at the Nigerian Stock Exchange (NSE), sustained its bearish hold, as sell-off in most bluechip stocks persisted yesterday, causing investors’ wealth to plunge further by N125 billion in three trading days. Specifically, market capitalisation of listed equities, which opened
Need for Nigeria energy reform
The recent signing of a gas supply agreement between the government of Benin Republic and Total may just change the place of Nigeria in electricity generation. On July 24, French super-major, Total signed a Gas Supply Agreement and Host Government
Ministry adopts electronic management system
The Permanent Secretary, Federal Ministry of Communications, Musa Istifanus, has revealed that the Ministry would adopt electronic management systems in the work place, to create higher level of transparency and efficiency in its operations and service delivery. He said this
Naira Exchange Rates